Strong rise ahead for Bitcoin (BTC) and Ether (ETH)?

Bitcoin tries to break $ 60,000

For the first time since April 2021, the price of Bitcoin sneaked back above the $ 60,000 threshold last night, before being rejected:

Bitcoin Daily chart

Bitcoin Daily Chart (Daily)

As we saw in our analysis last week, BTC gave an important bullish signal by breaking its Daily wedge upward. Thus, the target of $ 82,560 is activated, corresponding to the height of the pattern carried over to the break point.

The $ 60,000 level is the ultimate psychological resistance to pass before finally reaching the all-time high (ATH) at $ 64,990. If Bitcoin manages to break above its ATH, then the $ 82,560 seems to be a largely attainable price target.

This bullish scenario would be invalidated if the price of Bitcoin were to re-enter the pattern during a daily close. The Ichimoku curves act for the moment as support and the Chikou Span validates the bullish exit of the pattern. The $ 50,000 will therefore clearly be the area to defend to remain in a bullish end-of-year dynamic.

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Ether (ETH) continues its path towards $ 6,000

Again very close to the $ 4000 threshold, Ether is attempting to break the high trendline of its daily triangle. A breakout from the top would propel the price of ETH towards a new price record.

Ether (ETH) chart in Daily by Tagado

Ether (ETH) chart in Daily

After several months of consolidation within two nested chartist patterns, the price of ETH finally appears to be heading for a bullish exit, just as BTC had done several days before. If the breakout is confirmed, the next target will be around $ 6,000.

With the cloud, Tenkan and Kijun acting as supports, the price would have to go back below all these Ichimoku curves for Ether to give a new bearish signal. A breakout of the triangle below would activate a target towards $ 1,700.

In conclusion

Bitcoin (BTC) and Ether (ETH) seem to continue to rise towards their respective ATH with beautiful chart patterns present on the charts.

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About the Author: Tagado

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Passionate about crypto-currencies since 2017 and a fervent defender of knowledge sharing, I am a YouTuber, crypto analyst and regular trader. Each week, my role is to make you aware of technical analysis by giving you my point of view on the evolution of the price of Bitcoin and Ether, using my favorite indicators such as Ichimoku as well as chartist patterns.
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